Neo Energy gains New Beisa multi-workstream site access

Neo Energy Metals, through its 70%-owned Neo Uranium Resources Beisa Mine Proprietary Limited, signed a site access and contractorship agreement with Sibanye to begin a fully funded eight-month implementation assessment at the New Beisa Node while the Beatrix 4 Shaft mining right transfer progresses. Neo will act as the exclusive independent contractor for pre-development work, with Sibanye retaining the mining right and providing site access, information, and support at no cost. The assessment comprises three workstreams—gold plant refurbishment, a uranium circuit metallurgical study, and site infrastructure—budgeted at about £3.15 million and intended to yield an updated resource estimate and implementation plan. The program is designed to position Neo for a swift transition into execution once regulatory approval is obtained, with first gold production targeted for December 2027. The strategy emphasizes generating early cash flow from gold before completing the uranium circuit, aiming to reduce capital risk and improve project economics. The deal strengthens Neo’s partnership with Sibanye-Stillwater and advances the New Beisa brownfield uranium and gold project during the ongoing transfer process.